Business tycoon Sanjiv Goenka and international equity investment firm Irelia Company Pte Limited (CVC Capital) jointly paid Rs 12,715 crore (approx. $1.7 billion) to acquire the bids for two new IPL teams.

The BCCI was anticipating for a accumulative bid in the range of Rs 10,000 crore but to their shock, pocketed Rs 7090 crore from Goenka’s RPSG Group for the Lucknow franchise, while CVC capital allocated Rs 5625 crore for the Ahmedabad team.

The two new joiners will enter in the 2022 IPL.

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